Billguard presentation @ International Startup Festival 2011
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BillGuard™ is people-powered antivirus for bills. BillGuard Inc. is a personal finance security startup combining crowdsourced consumer vigilance with advanced transaction mining algorithms to protect everyone from unwanted and unauthorized charges on our credit card and debit card bills. BillGuard scans your card activity daily for hidden charges, billing errors, forgotten subscriptions, scams and fraud, and alerts you when your attention is required.
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Billguard presentation @ International Startup Festival 2011
Editor's Notes
- Hey guys, I am Raphael Ouzan,co-founder & CTO of BillGuard. I am so excited to be here today to tell you the story of the world first antivirus for bills. But first, I’d like to tell you what happened to me last night in my hotel. I noticed by chance an unauthorized charge on my hotel bill.
- But there’s good news: people actually do catch and report 10’s of thousands of bad charges every day, millions more post complaints online.But even with all that knowledge out there, guess who’s still losing money?
- You.
- But what if we could harness all that collective knowledge for the benefit of everyone? What if you could simply get an alert any time a charge on your bill is flagged by anyone else out there on theirs?What if you could get an alert anytime a charge on your bill is flagged by anyone else on theirs? 1. Now imagine if we combine that data with the collective knowledge of the millions of people already complaining online.2. People catch and dispute 10’s of thousands of bad charges every day, millions more post their complaints online. All that unstructured knowledge hasn’t benefitted us Imagine if we could harness all that currently silo’d, unstructured knowledge to protect us all?Sounds crazy? That’s exactly what was done to rid our inboxes of spam, why couldn’t the same principle be applied to unwanted charges on our bills?
- Well, there’s a new sheriff in town:Introducing BillGuard, the people-powered antivirus for bills. With BillGuard we’re safer together.
- BillGuard makes it easy for anyone to flag a charge on their bills, analyzes millions of transactions from banks, scours the web for complaints about charges that appear on your bill. All that data feeds the brain that scans your card activity daily, alerting you when your attention is required.
- We will turn on our revenue stream later this year with the first banks paying to offer BillGuard natively as part of their online statement. We’ll also be rolling out our “BillGuard Merchant Certification” (probably need a slide for this with the reliability score with a shield). Merchants will be able to feature their BillGuard reliability score on their website and will have the option to subscribe to a premium feed to get alerted of unwanted charges from their customers before it reaches the bank, giving them a chance to solve the problem before getting penalized. Distribution channels are being rolled out progressively with leading ID theft and antivirus companies. We’re headed to reach the 181M cardholders in the US and expand internationally in the upcoming year.
- All of this, starts with us. We call this collective vigilance, you can call this Power to the People. Join the movement on billguard.comThank you.